Bureau of Economic Analysis

Survey of Current Business

Table of Contents September 1997

Selected articles may be accessed by clicking on the links below. (An
Acrobat (PDF) version of the table of
contents is also available; however, links to other files will work only when
you use Acrobat Reader
4.0.)

Special in this issue

48 Comprehensive Revision of Local Area
Personal Income, 1969–95
(PDF)

BEA has released revised
annual estimates of personal income for local areas— counties, metropolitan
areas, and BEA economic areas—for 1969–94 and new estimates for 1995. The
estimates incorporate the results of the recent comprehensive revisions of the
national income and product accounts and of State personal income. In general,
the revisions were small; for 1994,
only 3
metropolitan areas had upward revisions of more than 5.0 percent, and only 3 areas had
downward revisions of more than 3.0 percent.

Regular features

In the second quarter of
1997, real GDP increased 3.6 percent, down from a 4.9-percent
increase in the first quarter; the price index for gross domestic purchases
increased 0.8 percent, down from a 1.9-percent
increase. Corporate profits increased $14.9 billion in the second quarter after increasing $31.8 billion in the first. In the second quarter,
the Federal Government current deficit decreased $20.7 billion, to $34.8 billion, the smallest deficit since the fourth
quarter of 1979;
the State and local government current surplus increased $0.6 billion, to $105.3 billion.

Revision of Annual State Personal Income. An article presenting revised annual
estimates of State personal income for 1991–96 and discussing major sources of the
revisions will appear in the October SURVEY.
The revised estimates of State personal income will be released on September 19.

Benchmark
InputOutput Accounts. The 1992 benchmark inpu output accounts for the U.S.
economy will be presented in two upcoming articles in the SURVEY.
The first article will include summary tables of the output (make) and the
inputs (use) for each of 96 industries, and the second will
include requirements tables for those industries.

Gross Product
by Industry. Revised
estimates of gross product by industry for 1993 and 1994 and new estimates for 1995 and 1996 that incorporate the recent annual NIPA revision will be presented in an upcoming
issue of the SURVEY.